Vic Government $250 Power Saving Bonus

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The Run Down

What’s the point of this incentive?

As Victorian's struggle through the aftermath of long lock-downs and the increased cost of living, every dollar counts.  

As such, the Victorian Government is trying to encourage Victorian households to compare energy plans on the Victorian Energy Compare Website to see if they can find a better deal and in doing so, potentially save money in the process. This isn’t the first time the Victorian Government has provided this type of incentive.  

Data from the Victorian Government’s Victorian Energy Compare website suggests that seven out of every 10 users can save money by switching energy offers, with typical annual savings of $330 on energy bills in the first year of switching.1 So combined with the Power Saving Bonus, that means Victorian households could save up to $580 in the first year. 1 

How can you apply for the bonus?

It’s simple!

All you have to do is have a recent residential energy bill at the ready and visit the Victorian Energy Compare website to submit an application for the bonus from July 1st.   

One bonus is allowable per eligible household.  

Who is eligible for the bonus?

The bonus is open to all Victorian households, who use the Victorian Energy Comparison website to compare their energy deal.   

But wait there’s more… If you have received the $250 Power Saving Bonus for concession recipients and/or the $50 Power Saving Bonus you will still be eligible to apply for the new $250 payment when the program begins on July 1st.  

When is the deadline to register?

The program to apply for the bonus will open on July 1st 2022. You can register your interest now on the Victorian Energy Compare website.

Go end-to-end with iSelect

It’s 2022 and many of us want the easiest, most direct and most time-saving approach to getting what we want. A one-stop-shop.

‘We have the technology’ to not only provide you with an energy comparison from our range of plans and providers, but by assisting with switching your energy plan and provider.

So, why not talk to iSelect on 13 19 20 or click here and we’ll try and help you out.

 

Source:  1. https://www.premier.vic.gov.au/slashing-energy-bills-250-power-saving-bonus

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